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Who keeps passing on bitcoin? - Page 2
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Who keeps passing on bitcoin?

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Comments

  • jarland said: The pieces have crossed paths with us here in the low end, for once we can see ahead on something, and it's that Monero has a higher value in it's near future.

    You're a market shaker, Jarland.

    It seems the alts have moved up lately, Monero has had a nice bump.

  • jlayjlay Member
    edited December 2017

    I've been on a hell of a hunt trying to find a hard drive that has a wallet worth a small fortune. I'm not sure if it'd still be useful at this point - either because of the fork or because it may have been compromised by now. I collected them when it was feasible to mine the things on a single core Athlon 64, before GPU mining or ASICs became commonplace and the difficulty shot to the sky.

    I can't be bothered to start trading alt coins or otherwise gaming the system, honestly. A few years ago I had a nice farm going on alt coins and trading, and was paying my electricity and about half of my rent in ATX (which is pretty damn steep!), but it's mostly lost my interest. I'm not hurting for cash and the time investment at this point isn't worth it for me as I haven't really kept up with it in recent years.

    edit: With that said, I am intrigued by the market and what options are available - I just don't want to do it personally. By the time I get out of work I barely want to computer at all lol

  • JanevskiJanevski Member
    edited December 2017

    randvegeta said: That's 1,250 BTC at that time. Now worth over $10M.

    Nobody is going to cash out that money. That millionaire gets poor the moment he cashes out - figuratively speaking.

    If all or at least significant number of people decide to pull out their dollars at once, there won't be anyone willing to give them that kind of money, exchanges will decide they have something better to do in their lives and bail out with negligible consequences towards themselves, thus the value of the bitcoin will fall. (And most likely rise again someday, after a while.)

    Because of already caused hype, even more and more people want to have bitcoins while evidently the number of bitcoins doesn't get significantly bigger and by watching their past action consequences they are creating an even bigger hype and so the perpetual fucking machine works.

    I guess the "right" way would be to live off bitcoin and milk the new investors out of their money, for as long and as much as possible, in this trapezoid scheme.

    Greed perpetuated by more greed. "Big money Ralphie, big money..."

    I might be wrong, but this is what i think. Now don't get me wrong, i don't have much positive opinion about real money and inflation for example, someone stealing your money from your own house, right from under your own bed, while you're sleeping, by not even entering your house at all. But then again, i've heard of some interesting fictional monetary model concepts, based on devaluation which force people to work and spend money...

    Anyhow...

    tl;dr: Gamble, i'm staying out.

    Monetary problems are for the ones that have money to begin with.

  • randvegetarandvegeta Member, Host Rep

    @Janevski said:

    randvegeta said: That's 1,250 BTC at that time. Now worth over $10M.

    Nobody is going to cash out that money. That millionaire gets poor the moment he cashes out - figuratively speaking.

    If all or at least significant number of people decide to pull out their dollars at once, there won't be anyone willing to give them that kind of money, exchanges will decide they have something better to do in their lives and bail out with negligible consequences towards themselves, thus the value of the bitcoin will fall. (And most likely rise again someday, after a while.)

    Because of already caused hype, even more and more people want to have bitcoins while evidently the number of bitcoins doesn't get significantly bigger and by watching their past action consequences they are creating an even bigger hype and so the perpetual fucking machine works.

    I guess the "right" way would be to live off bitcoin and milk the new investors out of their money, for as long and as much as possible, in this trapezoid scheme.

    Greed perpetuated by more greed. "Big money Ralphie, big money..."

    I might be wrong, but this is what i think. Now don't get me wrong, i don't have much positive opinion about real money and inflation for example, someone stealing your money from your own house, right from under your own bed, while you're sleeping, by not even entering your house at all. But then again, i've heard of some interesting fictional monetary model concepts, based on devaluation which force people to work and spend money...

    Anyhow...

    tl;dr: Gamble, i'm staying out.

    Monetary problems are for the ones that have money to begin with.

    My point was that no kid would have held on for so long that they would become millionaires in the real world. The temptation to sell is strong when your gamble starts looking to have big gains.

    I also don't see any problem with a bit of inflation. Inflation generally encourages things like consumption and investment, both of which are good for economic growth. It also helps those with debt by reducing the amount of real-terms money they owe to lenders. Since most people have debt, this benefits a lot of people.

    And for those who have money, they probably already have other assets that are inflation-proof anyway, like property or stocks Etc.

    I don't think inflation really hurts anyone.

    Crypto currencies are deflationary. And that is harmful in the real world.

  • HarambeHarambe Member, Host Rep

    I'm wishing I bought more at 9.4 last week, just pushed through $14k.

  • NeoonNeoon Community Contributor, Veteran

    Well, the TRAIN is gone.

    Even when you do invest 0.01 Bitcoin and it would rise to like 100k you would get 1k out of it.

    Better jump on other alt coins like XMR and stuff.

  • HarambeHarambe Member, Host Rep

    @Neoon said:
    Well, the TRAIN is gone.

    Even when you do invest 0.01 Bitcoin and it would rise to like 100k you would get 1k out of it.

    Better jump on other alt coins like XMR and stuff.

    Yeah, no more 10x returns in a short period. Hopefully pans out to be a good store of value though longer term.

    XMR probably isn't going to 10x either though, almost hit $300 today. Right now I think IOTA is the one that's going to keep moving. Looking at XRP for longer term as well.

  • NeoonNeoon Community Contributor, Veteran

    @Harambe said:

    @Neoon said:
    Well, the TRAIN is gone.

    Even when you do invest 0.01 Bitcoin and it would rise to like 100k you would get 1k out of it.

    Better jump on other alt coins like XMR and stuff.

    Yeah, no more 10x returns in a short period. Hopefully pans out to be a good store of value though longer term.

    XMR probably isn't going to 10x either though, almost hit $300 today. Right now I think IOTA is the one that's going to keep moving. Looking at XRP for longer term as well.

    Well, I am looking for a place to buy some IOTA but I can't find anyone most of them want to see my ID + Residential proof and do not support Paypal.

  • HarambeHarambe Member, Host Rep

    @Neoon said:

    Well, I am looking for a place to buy some IOTA but I can't find anyone most of them want to see my ID + Residential proof and do not support Paypal.

    Almost all of them are going to ID verify if you're putting in dollars/euros/etc, and I haven't seen an exchange that takes Paypal yet. You're better off buying BTC (maybe just get some locally) and then trading that to IOTA, trade fees will be lower.

    Here are the main markets: https://coinmarketcap.com/currencies/iota/#markets

  • NeoonNeoon Community Contributor, Veteran

    @Harambe said:

    @Neoon said:

    Well, I am looking for a place to buy some IOTA but I can't find anyone most of them want to see my ID + Residential proof and do not support Paypal.

    Almost all of them are going to ID verify if you're putting in dollars/euros/etc, and I haven't seen an exchange that takes Paypal yet. You're better off buying BTC (maybe just get some locally) and then trading that to IOTA, trade fees will be lower.

    Here are the main markets: https://coinmarketcap.com/currencies/iota/#markets

    There is the issue, they say due to the high amount, verification can be delayed up to 3 weeks.

  • WSSWSS Member
    edited December 2017

    Still pissing on buttcoins..

  • ForwardWebForwardWeb Member, Host Rep

    Ended up hopping on the Etho and IOTA bandwagons yesterday, Cryptos seem to be hot right now. Anyone else currently playing any of the cryptos?

  • randvegetarandvegeta Member, Host Rep

    @ForwardWeb said:
    Ended up hopping on the Etho and IOTA bandwagons yesterday, Cryptos seem to be hot right now. Anyone else currently playing any of the cryptos?

    I think just about every host probably dabbles in it. It's a relatively easy way to accept payment.

  • ForwardWebForwardWeb Member, Host Rep

    @randvegeta said:

    @ForwardWeb said:
    Ended up hopping on the Etho and IOTA bandwagons yesterday, Cryptos seem to be hot right now. Anyone else currently playing any of the cryptos?

    I think just about every host probably dabbles in it. It's a relatively easy way to accept payment.

    We've accepted bitcoin for awhile, but I was more or less referring to as an investor. Lite Coin has been on fire the past 24 hours or so.

  • HarambeHarambe Member, Host Rep

    @ForwardWeb said:
    Lite Coin has been on fire the past 24 hours or so.

    No kidding. Almost hit $400 on Coinbase. Currently in the $320-ish range on most exchanges. Nuts. In about 72 hours it went from $85 to $320+.

    Thanked by 1MasonR
  • randvegetarandvegeta Member, Host Rep

    Harambe said: No kidding. Almost hit $400 on Coinbase. Currently in the $320-ish range on most exchanges. Nuts. In about 72 hours it went from $85 to $320+.

    Herd mentality. People think it's the beginning of a rally so they all hop on, which inevitably makes the belief come true.

  • MasonRMasonR Community Contributor

    @randvegeta said:

    Harambe said: No kidding. Almost hit $400 on Coinbase. Currently in the $320-ish range on most exchanges. Nuts. In about 72 hours it went from $85 to $320+.

    Herd mentality. People think it's the beginning of a rally so they all hop on, which inevitably makes the belief come true.

    I'm not complaining :) sold off what I originally put in. Everything extra is just icing on the cake

  • @randvegeta said:
    Herd mentality. People think it's the beginning of a rally so they all hop on, which inevitably makes the belief come true.

    Kind of like LET in the last couple weeks. It's a Monero-mystery!

  • I lost a paper wallet with 5BTC on it. It was in my vault but I lost it somehow. The stock graph pretty much represents how unhappy I am.

    Thanked by 1hostdare
  • randvegetarandvegeta Member, Host Rep

    @cassa said:
    I lost a paper wallet with 5BTC on it. It was in my vault but I lost it somehow. The stock graph pretty much represents how unhappy I am.

    You're saying you lost $85k? And if the rally continues, possibly more? :D

  • ForwardWebForwardWeb Member, Host Rep

    @Harambe said:

    @ForwardWeb said:
    Lite Coin has been on fire the past 24 hours or so.

    No kidding. Almost hit $400 on Coinbase. Currently in the $320-ish range on most exchanges. Nuts. In about 72 hours it went from $85 to $320+.

    ETH is almost at $700.00 now, I think it pushes past $1000.00 by Jan (with some pull backs in between). Pure speculation of course! lol

  • HarambeHarambe Member, Host Rep

    @randvegeta said:

    Harambe said: No kidding. Almost hit $400 on Coinbase. Currently in the $320-ish range on most exchanges. Nuts. In about 72 hours it went from $85 to $320+.

    Herd mentality. People think it's the beginning of a rally so they all hop on, which inevitably makes the belief come true.

    And? What do you think the stock market is most of the time? Almost 4x your investment in 3 days... count me in.

    Just don't expect to buy at all time highs and have it keep climbing. Don't put in more than you can afford to lose.

  • randvegetarandvegeta Member, Host Rep

    Harambe said: What do you think the stock market is most of the time?

    Not herd mentality. It's not a guessing game. At least not for professional investors. There are ways to calculate the values of just about everything. Companies can be valued by their assets, productivity and profitability. Real estate by demand, utility and and infrastructure. Commodities also by utility. Crypto has no intrinsic value. And before you say fiat also has no intrinsic value, it serves a valuable purpose, which is to give a normalised value for goods and services so we can more easily understand what everything is worth (so we don't go round comparing how many oranges are worth 1 house or some BS).

  • I managed a hedge fund myself and I did not invest in Bitcoin. Never will. The point is that there is no good way to evaluate the value or the risk of bitcoin (sure, we can now calculate the volatility based on historical performance). (We can even value gambling bets very well.) I didn't profit from the return. But I don't ever feel like investing in things that I have absolutely no idea of. That being said, congrats to people who have made money. Money made is money made.

  • hostdarehostdare Member, Patron Provider

    cassa said: I lost a paper wallet with 5BTC on it. It was in my vault but I lost it somehow. The stock graph pretty much represents how unhappy I am.

    man go find it ... it is your treasure hunt

  • iwaswrongonceiwaswrongonce Member
    edited December 2017

    @RDX said:
    I managed a hedge fund myself and I did not invest in Bitcoin. Never will. The point is that there is no good way to evaluate the value or the risk of bitcoin (sure, we can now calculate the volatility based on historical performance). (We can even value gambling bets very well.) I didn't profit from the return. But I don't ever feel like investing in things that I have absolutely no idea of. That being said, congrats to people who have made money. Money made is money made.

    Ok, I gotta hear this one. Please elaborate what kind of shop you ran? AUM?

    Of course we can calculate the historical vol, any dummy with Excel can throw STDEV at any time series and calculate hvol. That's great for calculating VaRs but you can't trade it. There is an options market though, so running a vol book is possible, which is something I looked at for a couple of days. The problem is that liquidity and spreads are so shit that you can't stay on top of your gamma at all...convexity just fucks you in the ass, and the margins are nuts. Do you really want to post delta 1 margin to some sketchy exchange that's self cleared and might as well just run off with your cash? Valuing gambling bets? This is finance 101...hell, binomial options valuation IS effectively that. FFS, seeing all these crypto kiddies masquerading as BSDs makes my blood boil. /rant

    Source: reformed hedge fund trader turned tech founder/LET enthusiast

  • @iwaswrongonce said:

    @RDX said:
    I managed a hedge fund myself and I did not invest in Bitcoin. Never will. The point is that there is no good way to evaluate the value or the risk of bitcoin (sure, we can now calculate the volatility based on historical performance). (We can even value gambling bets very well.) I didn't profit from the return. But I don't ever feel like investing in things that I have absolutely no idea of. That being said, congrats to people who have made money. Money made is money made.

    Ok, I gotta hear this one. Please elaborate what kind of shop you ran? AUM?

    Of course we can calculate the historical vol, any dummy with Excel can throw STDEV at any time series and calculate hvol. That's great for calculating VaRs but you can't trade it. There is an options market though, so running a vol book is possible, which is something I looked at for a couple of days. The problem is that liquidity and spreads are so shit that you can't stay on top of your gamma at all...convexity just fucks you in the ass, and the margins are nuts. Do you really want to post delta 1 margin to some sketchy exchange that's self cleared and might as well just run off with your cash? Valuing gambling bets? This is finance 101...hell, binomial options valuation IS effectively that. FFS, seeing all these crypto kiddies masquerading as BSDs makes my blood boil. /rant

    Source: reformed hedge fund trader turned tech founder/LET enthusiast

    A few lines were written for people here who are not well informed in finance
    Also, I forget to mention that we run models based on fundamental analysis. So we probably work from very different angles.

  • iwaswrongonceiwaswrongonce Member
    edited December 2017

    @RDX said:
    A few lines were written for people here who are not well informed in finance
    Also, I forget to mention that we run models based on fundamental analysis. So we probably work from very different angles.

    Sounds like you're talking equities then? Not different worlds, my start was at a pretty vanilla long short fund as an analyst...still doesn't answer my questions, genuinely curious. AUM? Strat? Perf? Anything, really.

  • @randvegeta said:

    @cassa said:
    I lost a paper wallet with 5BTC on it. It was in my vault but I lost it somehow. The stock graph pretty much represents how unhappy I am.

    You're saying you lost $85k? And if the rally continues, possibly more? :D

    Damnit, you don't have to confirm it for me.... :(

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